South America highlights in 2011
- Strong business activity.
- Market share gains in the main headings.
- Strong margins.
- Growth forecasts for the region stable.
- NPA ratio at an all-time low.
- Excellent earnings figures.
Income statement
(Million euros)
|
|
South America | Units | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Banking business | Pensions and insurance | |||||||||||
|
|
2011 | ∆% | ∆% (1) | 2010 | 2009 | 2011 | ∆% | ∆% (1) | 2010 | 2011 | ∆% | ∆% (1) | 2010 |
| Net interest income | 3,164 | 26.8 | 31.6 | 2,495 | 2,566 | 3,103 | 26.4 | 31.2 | 2,455 | 61 | 50.2 | 53.2 | 41 |
| Net fees and commissions | 1,077 | 12.6 | 15.7 | 957 | 908 | 783 | 13.5 | 18.1 | 690 | 299 | 5.9 | 5.7 | 282 |
| Net trading income | 477 | (7.2) | (3.4) | 514 | 405 | 442 | 16.1 | 20.7 | 381 | 35 | (73.7) | (72.5) | 133 |
| Other income/expenses | (261) | 55.3 | 65.9 | (168) | (242) | (405) | 35.9 | 44.4 | (298) | 154 | 10.9 | 16.8 | 139 |
| Gross income | 4,457 | 17.4 | 21.4 | 3,797 | 3,637 | 3,924 | 21.5 | 26.0 | 3,229 | 549 | (7.7) | (5.6) | 594 |
| Operating income | (2,042) | 22.4 | 27.1 | (1,668) | (1,579) | (1,770) | 23.8 | 28.7 | (1,430) | (236) | (2.0) | 0.9 | (241) |
| Personnel expenses | (1,040) | 21.9 | 26.4 | (854) | (791) | (894) | 23.4 | 28.2 | (725) | (116) | (4.4) | (1.7) | (122) |
| General and administratve expenses | (844) | 23.4 | 28.3 | (684) | (673) | (725) | 24.8 | 30.0 | (581) | (112) | (0.3) | 2.8 | (113) |
| Deprecation and amortization | (158) | 20.5 | 25.4 | (131) | (115) | (151) | 20.9 | 25.9 | (125) | (7) | 13.3 | 15.2 | (7) |
| Operating income | 2,415 | 13.4 | 17.0 | 2,129 | 2,058 | 2,155 | 19.8 | 23.8 | 1,799 | 313 | (11.5) | (9.9) | 354 |
| Impairment on financial assets (net) | (449) | 7.2 | 10.5 | (419) | (431) | (449) | 7.2 | 10.5 | (419) | - | - | - | - |
| Provisions (net) and other gains (losses) | (89) | 120.0 | 124.3 | (40) | (52) | (90) | 269.9 | 278.9 | (24) | 1 | n.m. | n.m. | (8) |
| Income before taxes | 1,877 | 12.4 | 16.0 | 1,670 | 1,575 | 1,616 | 19.2 | 23.3 | 1,356 | 314 | (9.3) | (7.7) | 346 |
| Income taxes | (390) | (1.7) | 2.3 | (397) | (404) | (346) | 12.6 | 17.6 | (307) | (60) | (31.4) | (29.2) | (88) |
| Net incomes | 1,487 | 16.8 | 20.2 | 1,273 | 1,172 | 1,270 | 21.1 | 24.9 | 1,049 | 253 | (1.8) | (0.5) | 258 |
| Non-controlling interests | (480) | 25.3 | 29.4 | (383) | (392) | (422) | 32.9 | 38.0 | (317) | (59) | (12.8) | (12.2) | (67) |
| Net attributable profit | 1,007 | 13.2 | 16.2 | 889 | 780 | 848 | 16.0 | 19.3 | 732 | 195 | 2.0 | 3.6 | 191 |
Balances
(Million euros)
|
|
South America | Units | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Banking business | Pensions and insurance | |||||||||||
|
|
31-12-11 | ∆% | ∆% (1) | 31-12-10 | 31-12-09 | 31-12-11 | ∆% | ∆% (1) | 31-12-10 | 31-12-11 | ∆% | ∆% (1) | 31-12-10 |
| Cash and balances with central banks | 8,335 | 18.0 | 13.9 | 7,064 | 5,837 | 8,335 | 18.0 | 13.9 | 7,064 | - | - | - | - |
| Financial assets | 8,912 | 4.2 | 5.7 | 8,550 | 7,688 | 7,393 | 10.8 | 11.9 | 6,671 | 1,474 | (20.8) | (18.7) | 1,860 |
| Loans and receivables | 43,069 | 27.3 | 26.6 | 33,845 | 28,269 | 42,531 | 28.6 | 27.8 | 33,067 | 394 | (30.0) | (28.8) | 563 |
| Loans and advances to customers | 38,831 | 27.7 | 27.1 | 30,408 | 25,256 | 38,759 | 28.2 | 27.6 | 30,228 | 85 | (56.9) | (55.9) | 197 |
| Loans and advances to credit institutions and others | 4,238 | 23.3 | 22.9 | 3,437 | 3,013 | 3,772 | 32.9 | 31.0 | 2,839 | 309 | (15.6) | (14.4) | 366 |
| Tangible assets | 805 | 23.5 | 22.2 | 652 | 648 | 755 | 26.6 | 24.6 | 596 | 50 | (10.2) | (5.3) | 56 |
| Other assets | 2,322 | 48.9 | 50.9 | 1,559 | 1,936 | 1,848 | 35.3 | 37.5 | 1,366 | 182 | 7.8 | 11.8 | 168 |
| Total assets/Liabilities and equity | 63,444 | 22.8 | 22.1 | 51,671 | 44,378 | 60,863 | 24.8 | 23.9 | 48,764 | 2,100 | (20.7) | (18.7) | 2,648 |
| Deposits from cental banks and credit institutions | 5,205 | 21.1 | 20.5 | 4,299 | 3,092 | 5,205 | 21.2 | 20.7 | 4,295 | 4 | 15.2 | 14.9 | 4 |
| Deposits from customers | 42,468 | 26.8 | 25.3 | 33,496 | 29,312 | 42,655 | 26.9 | 25.4 | 33,605 | - | - | - | - |
| Debt certificates | 2,282 | 22.5 | 24.3 | 1,864 | 1,554 | 2,282 | 22.5 | 24.3 | 1,864 | - | - | - | - |
| Subordinated liabilities | 1,568 | 17.8 | 19.2 | 1,331 | 1,229 | 1,125 | (3.9) | (2.6) | 1,171 | - | - | - | - |
| Financial liabilities held for trading | 1,006 | 14.8 | 21.9 | 876 | 680 | 1,006 | 14.8 | 22.0 | 876 | - | - | - | 1 |
| Other liabilities | 8,002 | 9.8 | 10.6 | 7,286 | 6,326 | 5,939 | 21.8 | 21.1 | 4,877 | 1,847 | (16.1) | (13.9) | 2,202 |
| Economic capital allocated | 2,912 | 15.6 | 15.0 | 2,519 | 2,185 | 2,651 | 27.6 | 26.0 | 2,077 | 249 | (43.7) | (42.8) | 442 |
Significant ratios
(Percentage)
|
|
South America | ||||
|---|---|---|---|---|---|
|
|
31-12-11 | 31-12-10 | 31-12-09 | ||
| Efficiency ratio | 45.8 | 43.9 | 43.4 | ||
| NPA ratio | 2.2 | 2.5 | 2.7 | ||
| NPA coverage ratio | 146 | 130 | 149 | ||
| Risk premium | 1.31 | 1.52 | 1.66 | ||
BBVA footprint in South America
(31-12-2011)
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Banks | Pension fund manager | Insurance companies |
|---|---|---|---|
| Argentina | • |
|
• |
| Bolivia |
|
• |
|
| Chile | • | • | • |
| Colombia | • | • | • |
| Ecuador |
|
• |
|
| Panama | • |
|
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| Paraguay | • |
|
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| Peru | • | • |
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| Uruguay | • |
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| Venezuela | • |
|
• |